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Gujarat: Rs 50 cr illegal share transactions unearthed

Saturday, September 15, 2018, 10:14 AM

The Income Tax Department has unearthed illegal transactions to the tune of Rs 50 crore in a case involving stock market entry operators Jignesh-Shah and Sanjay-Shah. They had manipulated Long Term Capital Gains (LTCG) involving shares of three companies; Citizen Yarn Ltd, Safal Securities Ltd and Safal Herbs Ltd. IT sleuths have also recovered blank physical share certificates of these companies from the accused.